Energy stocks suffer broad selloff, led by Halliburton, as crude oil falls to more than 5-week low

Energy stocks were suffering a broad beating Tuesday, as a selloff in crude prices was exacerbated by a big decline in the broader stock market. The Energy Select Sector SPDR exchange-traded fund XLE sank 4.4% toward a five-week low, with all 23 equity components losing ground. With the ETF , Chevron Corp.’s stock CVX slumped 4.5%, enough to pace the decliners within the Dow Jones Industrial Average DJIA, which dropped 420 points, or 1.2%. The biggest XLE decliner was Halliburton Co.

Energy stocks were suffering a broad beating Tuesday, as a selloff in crude prices was exacerbated by a big decline in the broader stock market. The Energy Select Sector SPDR exchange-traded fund XLE sank 4.4% toward a five-week low, with all 23 equity components losing ground. With the ETF , Chevron Corp.’s stock CVX slumped 4.5%, enough to pace the decliners within the Dow Jones Industrial Average DJIA , which dropped 420 points, or 1.2%. The biggest XLE decliner was Halliburton Co.

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Source: Reuters - 🏆 2. / 97 Read more »